Coming soon – The great gas price crash

Coming soon – The great gas price crash $4.00 gas prices: Expensive by 2020 standards? To be followed by an even greater gas price hike? Barring conflict in the Persian Gulf, which seems incredibly all too likely, gasoline prices could be set for a huge crash around 2020. In fact the world might be on the verge of one of the greatest oil booms ever, at least in many decades. Unfortunately, that probably won’t mean anything in terms of reducing US foreign oil dependence. In fact, the oil boom might actually lead to much higher gas prices, despite the potential of an OPEC-free North America. At least that’s the conclusion of a recent study by Harvard’s Leonardo Maugeri, a former senior executive vice president of the oil company Eni. According to Maugeri, now a fellow in the Geopolitics of Energy Project in the Kennedy School’s Belfer Center for Science and International Aff...